Audiovox Profit Rises
Audiovox said Tuesday that it posted a profit in the second quarter of $3.4 million, up from $0.6 million the same time last year. The company reported that sales rose 22.5 percent, thanks in part to the purchase of Klipsch Group.
"Through the first half of the year, our business is primarily tracking to plan. Our automotive OEM business continues to grow. Our international operations are performing well, despite weakness in some European countries, and our Klipsch acquisition is meeting plan with a lot of potential to grow in the years ahead," Pat Lavelle, the company's president and CEO, said as part of the announcement.